Bonds compensation for Friends First customers is in jeopardy

Consumers who successfully complained to the Financial Services Ombudsman that they were mis-sold certain bonds manufactured by Friends First may not get the compensation which the Ombudsman has awarded them.

21st February, 2009

Consumers who successfully complained to the Financial Services Ombudsman that they were mis-sold certain bonds manufactured by Friends First may not get the compensation which the Ombudsman has awarded them.

The Sunday Business Post has learned that some investment brokers are currently unable to pay the awards, because they have been refused cover by their professional indemnity insurance providers.

The dispute between the investment brokers and their insurers is currently at arbitration, informed sources said.

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say